We did not elect any bullish reversals. March remains our Directional Change target and the Dow could not close above 16934 for February. Looking ahead, we see the weeks of 03/14 and 03/23 (array posted on the private blog for the Investor level). We have also not elected any Weekly Bullish Reversals. The 17000 level […]
Technically, the Dow Jones Industrials almost set up to make a “Channel Move” between two channels, but they interestingly overlapped instead with no gap between. This is one reason the S&P 500 could break last year’s low, but not the Dow. We made a new high for the month on Friday closing at 16639.97. […]
The markets have been churning back and forth. The trading range for key support and resistance in the Dow resides at 17406 and 16215. A closing outside that range on a daily basis will pick the direction. In Gold Nearest Futures that is 1237 and 1162. Monday we will have our month-end numbers coming into […]
QUESTION: Mr. Armstrong, since the S&P did break last year’s low, does that qualify for a slingshot if the Dow does not? Thank You for all you do GW ANSWER: We do not have to make a new low in the Dow. The S&P 500 penetrating last year’s low was sufficient. We are approaching our […]
Last week we had a Panic Cycle in Gold and a Directional Change. Both performed on target. As we have stated previously, the Directional Change can be by itself a very fascinating tool. The Directional Change can at times be the beginning of a breakout to a new trading level (major thrust) in one directions […]
We have two Weekly Bearish Reversals in play today. The first is a key level at 15994 and the second is short-term at 15942. Certainly, a closing beneath both will warn that the Dow may break to test under the 14000 level going into as late as the week of February 22 near-term and possibly […]
